Terms of Service

1. Who we are

Despun is operated by Figure 4 AB, org. no. 559301-7998, a company registered in Sweden ("Figure 4", "we"). These terms are an agreement between Figure 4 and the organisation that uses Despun ("you"). By creating an organisation, accepting an invitation, or using the service, you accept these terms on behalf of that organisation.

2. The service

Despun is a due-diligence data room. A fund invites a company, the company uploads its documents, and Despun reads them and answers a set of diligence questions. Every answer cites the document it comes from, and an answer whose quote cannot be found in the cited document is discarded.

Despun is in beta. Features change, and we may add, alter or remove them. We tell you by email before a change that removes something you pay for.

3. Accounts and organisations

• An account belongs to one person. Keep your sign-in credentials to yourself.
• An organisation is a fund or a company. Its admins decide who joins and what each member may do.
• You are responsible for everything done under your organisation, including by the members you invite.
• You must be at least 18 and authorised to bind the organisation you act for.

4. Trial and subscription

• Every new organisation gets a 14-day free trial.
• After the trial, a fund needs an active subscription to open rooms and to run analysis in them. Subscriptions are monthly or yearly, paid in advance through Stripe, and renew until cancelled.
• A company pays nothing. The fund that invited it pays for the room.
• You cancel through the billing portal. Access continues to the end of the period you paid for. We do not refund part of a period.
• When a subscription lapses, new analysis pauses. Rooms and reports stay readable. Nothing is deleted because of a lapse.
• Prices are shown at checkout and exclude VAT. We tell you by email at least 30 days before a price change.

5. Your content

You own the documents you upload and the reports Despun produces from them. You grant Figure 4 the right to store, process and display that content only as needed to provide the service to you and to the organisations you share it with.

You confirm that you have the right to upload the content and to share it with the other party in a room. A company controls what goes into its room. A fund reads what the company has released to it.

We do not use your content to train models, and we do not sell it.

6. AI output

Despun's answers are generated by a language model from the documents in the room. Despun verifies that each quoted passage exists in the cited document. It does not verify that the document is true, complete or current.

The output is information, not advice. It is not a substitute for legal, financial or investment advice, and you make every investment decision yourself. Despun may miss things and may misread things. Check what matters.

7. Acceptable use

You must not:

• upload content you have no right to share, or content that is illegal;
• try to reach rooms, files or accounts that are not yours;
• probe, scan or overload the service, or interfere with another organisation's use of it;
• resell the service or use it to build a competing product.

We may suspend an organisation that breaks these rules. We tell you why.

8. Confidentiality

Your rooms are private to the organisations in them. Figure 4 staff do not open your rooms except to fix a problem you have asked us to fix, or when the law requires it. Every access to a room is written to an audit log that the room's members can read.

9. Availability and warranty

We work to keep Despun up, but we do not promise an uptime level during the beta. The service is provided "as is". To the extent the law allows, we make no warranty about its accuracy, fitness for a purpose or uninterrupted operation.

10. Liability

To the extent the law allows, Figure 4 is not liable for indirect losses, lost profits, or decisions taken on the basis of Despun's output. Our total liability under these terms is limited to the fees you paid us in the twelve months before the claim.

11. Ending the agreement

You may stop using Despun at any time. Cancel your subscription and ask us to delete your organisation. We delete its content within 30 days of that request, except what we must keep for accounting or legal reasons.

We may end the agreement with 30 days' notice, or at once if you break section 7.

12. Changes to these terms

We may update these terms. For a material change we email your organisation's admins at least 14 days before it takes effect. Using Despun after that date means you accept the new terms.

13. Law and disputes

Swedish law governs these terms. Disputes are settled by the Swedish courts, with Stockholm District Court as the court of first instance.

14. Contact

Questions about these terms go to [email protected]. How we handle personal data is in the privacy policy.